1644 GMT - The cost of insuring U.K. bank bonds against default using credit default swaps rises as markets reassess U.K.'s fiscal sustainability amid rising gilt yields. The rise in U.K. sovereign bond yields is causing U.K. bank bonds to underperform their European and U.S. peers, TwentyFour Asset Management's portfolio manager Jakub Lichwa says in a note. Barclays' 5-year credit default swaps climb to a 5-month high of 73bps on Monday, S&P Global Market Intelligence data show. HSBC Holdings' 5-year credit default swaps edge up to a six-week high of 54bps. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 11:44 ET (16:44 GMT)
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